Futures Knowledge - Using Market Orders

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Home > Forex > Using Market Orders
Article By Rick Thachuk
World Link Futures

Market orders are the simplest and fastest way to execute a trade. With a market order, the trade is executed immediately at the currently quoted bid or offer. Market orders to buy deal on the quoted offer and market orders to sell deal on the quoted bid.

For example, say that GBP/USD is currently quoted at 1.8329/1.8333. A trader who expects the British pound to strengthen against the U.S. dollar can buy a mini contract (i.e. 10,000 British pounds) using a market order. This order would be filled at the offer of 1.8333. If the trader expected the British pound to weaken, then he would sell a mini contract using a market order. This order would be filled at the bid of 1.8329.

In other markets, such as the futures market, a trader never knows the price at which a market order is executed until after the fill is reported. In the FOREX market, though, a trader can see current bids and offers and this, then, greatly eliminates the uncertainty of the fill price. This is an advantage of the FOREX market.

See Also:
Using Stop Orders
Using Limit Orders

Home > Forex > Using Market Orders

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